Tag: mobile payment transactions

Consumers in Ireland are not keen on making payments via mobile if the process is too difficult. New research from Elavon, a global payments expert, reveals that mobile payment transactions are abandoned by over two-thirds of mobile consumers in Ireland, when these consumers find the mobile payments process to be too tedious and difficult. Several aspects of mobile transaction processes frustrated online shoppers. Elavon’s mobile shopping experience study, which involved 1,000 adult mobile shoppers in Ireland, noted that there were primary sources of frustration that lead to mobile users abandoning…

The Chase Pay mobile wallet will soon be entering the largest American supermarket chain. Kroger mobile payments will soon become an option for customers at the massive U.S. grocery store chain by way of a new deal with JPMorgan. The reason is that the supermarket has agreed to start accepting the bank’s mobile wallet, Chase Pay starting next year. The announcement of the mobile payment agreement was made jointly by both companies. The Chase Pay wallet will start being available for Kroger mobile payments at the start of next year.…

According to First Data Corp, smartphone based transactions hit a tipping point with a 75 percent growth rate. Following an exceptionally slow rate of adoption over the last few years, restaurant mobile payments are finally starting to catch on, particularly in the quick service industry. This year saw an impressive growth rate and it is expected to continue in this strong and positive direction. Payment technology company, First Data Corp, reported a massive rise in smartphone transactions. Quick service restaurant mobile payments were especially high performers, according to the firm’s…

A new study from Accenture has shown that awareness isn’t necessarily the main barrier to adoption. Until now, the primary barrier to adoption of mobile payments has been considered to be a lack of awareness among the majority of the population, but according to the results of a recent study, people are starting to learn about this technology – they’re just choosing not to use it. In North America, awareness of smartphone payments has reached the majority of people. A report on the study by Accenture has shown that over…

Wait staff in restaurants are discovering that there are unexpected benefits to smartphone wallet apps. Over the next few years, it is believed that mobile payments will be taking off and that people will be using their smartphones in place of plastic cards to pay for everything from purchases in stores to meals at restaurants. Along with this overall shift in payment methods will also come a range of additional unexpected trends. So far, one type of trend that has been identified as a part of the transition toward mobile…

The South Korean market has greatly expanded its use of these apps and services during the span of three months. According to data that has been released by the central bank in South Korea, mobile banking in that market has undergone a 13 percent increase in terms of its daily usage over the span of the three months that made up the first quarter of this year. This insight underscores the strength of the growing trend toward mobile device use for financial transactions. During the period running from January through…

Even though the services may cost less, these new and smaller companies are no match for the current giant. Although the use of mobile payments hasn’t taken off nearly as quickly as many in the industry had hoped or expected, PayPal is still managing to hold its own, and to thrive, particularly when compared to the many startups that have tried to carve their own slice of the market. Even though consumers aren’t using the services very much, the market from the provider side is becoming crowded. Venture capitalists are…

The new program will allow merchants to accept transactions through smartphones in store. It has just been announced that Iceland will be taking its first steps into the mobile payments world, as the Valitor card issuer has entered into a partnership with the Point electronic transaction solutions provider, for a software that will let merchants accept transactions through contactless Visa cards and smartphones through PayWave. This will make it possible for consumers to leave their wallets at home and use smartphones to check out. This new mobile payments option in…

Google has decided that it wants a single payment platform for both merchants and consumers. Consumers checking out from a mobile commerce website are now provided with the opportunity to use the new payment method. The Google Checkout service is now having its name changed to Google Wallet, so that there is only a single brand being used for customers who are shopping with merchants who accept online payments. Google Wallet is the new service provided by the company that is designed to allow mobile payment transactions to be completed…

According to research performed by Pyramid Research, as published in a recent report, over the next few years, mobile payment transactions will reach and surpass hundreds of billions of dollars. As mobile technology continues to play an increasingly important role in people’s daily lives, payment vendors are now scrambling to be able to take advantage of the opportunity created by those people’s desire to include the use of their mobile devices in their product purchasing decisions, including searches, price comparisons, store locations, and even the purchases themselves. According to the…

**Budapest, September 9, 2011 – PortfoLion Venture Capital Fund Management Ltd is to invest HUF 400 million (EUR 1,5 million) in Cellum Global Zrt, member of the Cellum Group, the hungarian market leader in mobile payment solutions. Financial resources required for the transaction are provided by the European Union JEREMIE venture capital fund (Joint European Resources for Micro to Medium Enterprises Initiative). The agreement on the largest venture investment so far in the region’s mobile payment sector was signed on 1st September 2011. The technology developed by Cellum is marketable…